Polyethylene Terephthalate Pricing Report ​2024​: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data

Polyethylene Terephthalate Pricing Report ​2024​: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data

Report Format: PDF+Excel | Report ID: SR112024A22619
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Polyethylene Terephthalate Prices December 2023

Product
Category Region Price
Polyethylene Terephthalate Polymer & Resin USA 2342 USD/MT
Polyethylene Terephthalate Polymer & Resin South Korea 1970 USD/MT
Polyethylene Terephthalate Polymer & Resin Germany 2235 USD/MT


The polyethylene terephthalate prices in the USA for Q4 2023 reached 2342 USD/MT in December. Excess inventories led to reduced prices as suppliers aimed to clear stock. Stabilization occurred later in the quarter as feedstock supplies remained steady despite uneven demand from packaging sectors.

The price trend for polyethylene terephthalate in South Korea for Q4 2023, reached 1970 USD/MT in December owing to elevated import costs. Low consumption from the packaging sectors and economic uncertainties led to a decrease in PET resin prices, despite stable market conditions without plant shutdowns.

The price trend for polyethylene terephthalate in Germany for Q4 2023, reached 2235 USD/MT in December. Producers cut back on production to control inventory levels, amid expectations of rising feedstock costs. Despite these pressures, the European market remained regulated with no major shutdowns reported.

Polyethylene Terephthalate Price Trend, Market Analysis, and News

IMARC’s newly published report, titled Polyethylene Terephthalate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of polyethylene terephthalate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing polyethylene terephthalate price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Polyethylene Terephthalate (PET) Price Trend

Polyethylene Terephthalate Market Analysis

The global polyethylene terephthalate market size reached US$ 31.3 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 46.1 Billion, at a projected CAGR of 4.40% during 2023-2032.

  • The rising need for sustainability and recyclability represents one of the key factors influencing the growth of the market across the globe. The ability of PET to be recycled, along with the increasing emphasis on sustainable materials is contributing to the market growth. According to McKinsey&Company, when consumers are asked if they care about buying environmentally and ethically sustainable products, they overwhelmingly answer yes: in a 2020 McKinsey U.S. consumer sentiment survey, more than 60% of respondents said they would pay more for a product with sustainable packaging. A recent study by NielsenIQ found that 78% of US consumers say that a sustainable lifestyle is important to them. The recyclability of PET appeals to both environmentally conscious consumers and industries looking to reduce their environmental footprint which is driving its demand.
  • The increasing demand for PET in the packaging of water, soft drinks, and other beverages is acting as a major growth-inducing factor in the market. This is primarily due to the various properties of PET including strength, clarity, and good barrier properties which are driving the market growth. For instance, in February 2023, Berry Global Healthcare introduced A comprehensive bundle solution to help customers capitalize on the increasing demand for child-resistant (CRC) and temper-evident (TE) packaging for the pharmaceutical and herbal market for syrup and liquid medicines. The new Berry Healthcare bundle features seven ranges of 28mm neck PET bottles in sizes from 20 to 1000 ml and a variety of designs, with eight accompanying closures that incorporate tamper-evident and child-resistant features.
  • The growth of the beverage industry especially in emerging markets is also contributing to the demand for PET. For instance, in July 2023, Amcor Rigid Packaging (AR) and Ron Rubin Winery commercialized a 100% recycled polyethylene terephthalate (rPET) wine bottle. The companies worked together to develop a screw top bottle, which features a silicon oxide barrier coating.
  • The increasing preference for lightweight and durable packaging products is facilitating the growth of the market. For instance, in November 2022, Amcor Rigid Packaging unveiled a two-step lightweight technology set to remove over 50% of the material and weight in the finish of PET bottles-a development thought to produce attractive packaging, lower manufacturing costs, and reduce carbon emissions.

Polyethylene Terephthalate News

The report covers the latest developments, updates, and trends impacting the global polyethylene terephthalate market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in polyethylene terephthalate production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the polyethylene terephthalate industry:

  • In February 2022, Alpha Packaging introduced a new Eco-line of its popular PET Packers. With lighter weight and recyclable materials, these packers work great while offering a more sustainable solution.
  • In April 2023, Sonocco announced the high-barrier paper-based structure, EnviroFlex Paper Ultimate (ULT) 1.0, has received How2Recycle free qualification and has met all requirements of the Fiber Box Association’s Voluntary Standard for Repulping and Recycling. This pre-qualification comes as a result of Sonoco's ongoing efforts to develop innovative, sustainable packaging solutions.

Product Description

Polyethylene terephthalate or PET refers to a type of polyester that is commonly employed to produce fibers for clothing, containers for liquids and foods, and thermoforming applications.

Known for its recyclability, strength, and durability, PET is particularly favored in the packaging industry, notably for making water and soft drink bottles. This plastic is identified by the recycling code #1.

Polyethylene terephthalate is valued for its good barrier properties against water vapor and gases, which help to preserve the freshness and efficacy of packaged goals.

PET is also lightweight, shatter-resistant, and economical, thereby making it an attractive option for manufacturers and consumers alike. The material can be recycled multiple times, reducing its environmental footprint by allowing it to be converted into new PET products or other materials such as fibers for carpeting and apparel, thereby promoting more sustainable use of resources.

Regional Coverage

The report provides a detailed analysis of the polyethylene terephthalate market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the polyethylene terephthalate price trend. 

Global Polyethylene Terephthalate Price

The report offers a holistic view of the global polyethylene terephthalate pricing trends in the form of polyethylene terephthalate price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into polyethylene terephthalate historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into polyethylene terephthalate price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed polyethylene terephthalate demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Polyethylene Terephthalate Price

The European polyethylene terephthalate industry exhibited a downward shift in Q4 of 2023, due to increased production prices, weak demand, and excess supply. PET producers reduced output to control inventory and maintain prices amid expectations of rising feedstock and crude oil prices. The European Commission intervened by imposing tariffs on the product’s imports from China to counteract the advantages Chinese producers gained from lower production costs, aiming to protect local manufacturers. Despite these challenges, no plant closures were reported. In Belgium, the market faced significant inventory pressure, yet demand remained high as new stocks entered the market.

This analysis can be extended to include detailed polyethylene terephthalate price information for a comprehensive list of countries.

Region Countries Covered
Europe Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries.


North America Polyethylene Terephthalate Price

During Q4 2023, the polyethylene terephthalate industry in North America experienced fluctuations driven by mixed market conditions. Elevated demand for PET bottles was met with average to low levels of supply, while reduced downstream packaging consumption led to lower PET resin demand. In the latter half, the market saw price stabilization owing to a consistent availability of raw materials, despite variable consumption in the packaging industries.

Specific polyethylene terephthalate historical data within the United States and Canada can also be provided.

Region Countries Covered
North America United States and Canada


Middle East and Africa Polyethylene Terephthalate Price

In the MEA region, the polyethylene terephthalate industry showed mixed dynamics during the last quarter of 2023. The industry’s performance was largely dictated by crude oil and demand-supply balance. In Saudi Arabia, the PET resin market was slow, owing to an oversupply and expected lower demand from packaging sectors. Despite a generally stable market, low inventories led to bullish sentiment for PET bottles in Saudi Arabia, with no reported plant shutdowns and average supply levels maintaining a balanced market environment.

In addition to region-wise data, information on polyethylene terephthalate prices for countries can also be provided.

Region Countries Covered
Middle East & Africa Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries.


Asia Pacific Polyethylene Terephthalate Price

In Q4 2023, the polyethylene terephthalate market in the Asia Pacific saw varying pricing trends due to multiple factors. A moderate demand and excess supply characterized the overall market, with specific regional variations. South Korea faced supply shortages owing to the rising import costs, whereas Taiwan's bearish market condition and economic uncertainties led to reduced PET resin costs. Conversely, the industry in India saw stable prices, supported by steady demand and adequate supply.

This polyethylene terephthalate price analysis can be expanded to include a comprehensive list of countries within the region.

Region Countries Covered
Asia Pacific China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries.


Latin America Polyethylene Terephthalate Price

The analysis of polyethylene terephthalate prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Region Countries Covered
Latin America Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries.


Report Coverage

Key Attributes Details
Product Name Polyethylene Terephthalate
Report Features Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Polyethylene Terephthalate Price Analysis, and Segment-Wise Assessment.
Currency/Units US$ (Data can also be provided in local currency) or Metric Tons
Region/Countries Covered The current coverage includes analysis at the global and regional levels only. 
 
Based on your requirements, we can also customize the report and provide specific information for the following countries: 
 
Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand*
 
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* 
 
North America: United States and Canada

Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru*

Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco*

*The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client.
Information Covered for Key Suppliers
  • Company Overview
  • Business Description
  • Product Portfolio
  • Recent Trends and Developments
Customization Scope The report can be customized as per the requirements of the customer
Report Price and Purchase Option

Plan A: Monthly Updates - Annual Subscription

  • Scope
    • Historical Data for the Current Month
    • Forecast for Next Month
  • Total Deliverables Per Year: 12 (One Per Month)
  • Includes: One PDF and Excel datasheet per month, Post Purchase Analyst Support throughout the year

Plan B: Quarterly Updates - Annual Subscription

  • Scope
    • Historical Data for the Current Quarter
    • Forecast for Next Quarter
  • Total Deliverables Per Year: 4 (One Per Quarter)
  • Includes: One PDF and Excel datasheet per Quarter, Post Purchase Analyst Support throughout the year

Plan C: Biannually Updates - Annual Subscription

  • Scope
    • Historical Data for the Current Half
    • Forecast for the Next Half
  • Total Deliverables Per Year: 2 (One Per 6 Months)
  • Includes: One PDF and Excel datasheet per Half, Post Purchase Analyst Support throughout the year
Post-Sale Analyst Support  360-degree analyst support after report delivery
Delivery Format PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) 


Key Benefits for Stakeholders:

  • IMARC’s report presents a detailed analysis of polyethylene terephthalate pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
  • The study examines factors affecting polyethylene terephthalate price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
  • The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
  • IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the polyethylene terephthalate industry.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Polyethylene Terephthalate Pricing Report ​2024​: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
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